JP Morgan Chase & Co, the American multinational investment bank and financial services company headquartered in New York City, has started tracking the office attendance of its employees. The employees — who have been asked to come into office thrice a week, as per a hybrid model of work — feel this kind of micromanaging is spreading an atmosphere of distrust and uncertainty.
The Bank is keeping track of the ID swipes made by the employees to monitor their attendance.
As reported by Business Insider, this monitoring of ID swipes is part of JP Morgan’s return-to-office policy. The data obtained from this exercise may be used to implement in-office quotas.
The Bank, which has a 2,70,000 stroke workforce, expects half of its workforce to come in to office five days a week, while 40 per cent will be allowed to follow a hybrid model. The rest of the 10 per cent will work 100 per cent remotely.
The frustrated employees feel that the Bank doesn’t trust them, which is why it keeps a close watch on them constantly.
Most senior officials are reportedly not happy with the return-to-office policies, as they feel pressurised to ensure full compliance and fear the repercussions of failure.
The Bank recently unveiled the design of its new global headquarters in New York City, which will probably be the largest ‘all-electric’ tower run 100 per cent on renewable energy.
The new 60-storey headquarters will come up Park Avenue, New York.